Builders Merchants Journal – BMJ Publishing to Builders Merchants and the UK merchanting industry for more than 95 years
Cement manufacturer Cemex is to lose 6% of its global workforce as part of a wider reorganisation.
The company employs about 46,500 people across the globe and is seeking cost savings of about £160m this year. The Mexican group is the world’s third biggest cement maker.
Reuters reported the cement maker said it hopes to generate £250m in additional cash flow by the end of 2012 through cutting costs and improving underperforming businesses.
The company reported a wider-than-expected first-quarter loss, but said sales rose in a sign it is slowly recovering from the worst crisis in its century-long history.
